San Francisco, 3
October 2018: The global enterprise search market is expected to reach USD 8.90 billion by 2024,
according to a new study by Grand View Research, Inc. The increasing demand for
solutions offering time-saving data search capabilities is expected to be a key
factor driving the market growth over the next eight years. The growing need to
efficiently supervise large volumes of data in an organization in order to
improve the operational efficiency is propelling the adoption of enterprise
search solutions. These solutions offer an enhanced security layer, allowing
access to information only for the authorized personnel. This is also promoting
the market growth over the forecast period. The increasing demand for several
value-added services, along with the search capabilities, is encouraging the adoption
of enterprise search solutions in the organization with large changes in
operational practices.
Technological
advancements and the emergence of cloud computing and Software as a Service
(SaaS) are driving the adoption of hosted enterprise search solutions in the
small and medium enterprises. Added benefits offered by these solutions,
including low maintenance and reduced installation cost, along with minimum
technical support, are positively impacting the market growth. The trend is
likely to continue in the near future as well. However, the availability of the
open source free enterprise search solution may pose a challenge to companies
operating in the market.
Google, Inc. (Google
Search Appliance), HP Autonomy (Verity), SharePoint Search (Acquired by
Microsoft), and IBM corporation are the leading players dominating the market.
However, Microsoft Corporation has recently stopped the commercialization of
standalone products, namely ‘Fast’ and ‘Transfer’. The large numbers of
enterprises are using enterprise search platforms ‘Fast’ and ‘Transfer’ in the
current scenario.
Access Research Report
of Enterprise Search
Market @ www.grandviewresearch.com/industry-analysis/enterprise-search-market
Further key findings from the study suggest:
· Banking and financial services are expected
to be a high-growth segment; in 2015, it accounted for over 33% of the
enterprise search market. Data sharing and interconnectivity are expected to be
the key factors driving growth across this segment
· The large enterprises end-use segment is
expected to dominate the market over the next eight years.This can be credited
to the increasing need to search for accurate data across a vast database
extracted from different sources. The pay-per-use model offered by the
cloud (SaaS) enterprise search solutions providers is expected to have a wide
adoption across the small and medium enterprises at a rate higher than the
global average over the forecast period
· North America emerged as a market leader in
terms of market revenue and accounted for over 35% of the global enterprise
search market in 2015. Technological advancements along with the presence of
the key market players have contributed to the regional market growth
· The key industry participants include HP
Autonomy, Google Inc., SharePoint Search (Acquired by Microsoft), and IBM Corp.
Strategic collaborations, in order to provide mass market solutions while
serving the niche markets, remain a strategic initiative that is followed by
the leading players
Browse more reports of this category by Grand View
Research at: www.grandviewresearch.com/industry/communication-services
Grand View Research has
segmented the global enterprise search market on the basis of end-use,
enterprise size, and region:
Enterprise Search End-Use Outlook (Revenue, USD Million,
2013 - 2024)
·
Government & Commercial Offices
·
Banking & Financial Services
·
Healthcare
·
Retail
·
Others
Enterprise Search Enterprise Size Outlook (Revenue, USD
Million, 2013 - 2024)
·
Small Enterprises
·
Medium Enterprises
·
Large Enterprises
Enterprise Search Regional Outlook (Revenue, USD
Million,2013 - 2024)
·
North America
o
U.S.
o
Canada
o
Mexico
·
Europe
o
UK
o
Germany
·
Asia Pacific
o
China
o
India
o
Japan
·
Latin America
o
Brazil
·
Middle East and Africa
Access Press Release of
Enterprise Search Market@ www.grandviewresearch.com/press-release/global-enterprise-search-market
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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